Due to non-payment of around Rs 5,500 crore as subsidy by the state government, the Punjab State Power Corporation Ltd (PSPCL) has plunged into a deep financial crisis and has defaulted in payment of Rs 2,133 crore to various power-generation companies.
The National Thermal Power Corporation (NTPC) has even threatened to encash bank guarantees of PSPCL if they do not get their payment of Rs 138 crore by Wednesday.
Meanwhile, the employees of the power corporation, who have not received their salaries for November, on Tuesday started a ‘no pay, no work’ protest. They held a protest in front of the PSPCL headquarters here.
